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Sales of UAE's Fujairah bunkers in the first half of 2026 plummet amid US/Iran war
The U.S. - Iran 'war' has affected supplies at the?key Middle Eastern ship fuelling hub near the Strait of Hormuz. Fujairah has lost its lead as the top bunkering hub in the world. China's Zhoushan Port is now poised to overtake Fujairah this year, as the third largest hub in the world. According to S&P Global's data on the Fujairah Oil Industry Zone, marine fuel sales in Fujairah for the first half 2026 were about 1.63 metric?tons (10.40 million barrels), down 55% compared to the?first halves of 2025. Volumes continued to decline, reaching a new low of 86,000 tons in June. Sales of low-sulphur fuels for marine vessels, which include both residual fuels and gasoline, accounted for 51% of the total volume in June, while sales high-sulphur fuels for marine vessels accounted 49%. The first drop in sales occurred in March, after the war began at the end February. Infrastructure was also attacked, causing loading operations to be hampered. Fujairah imports fuel oil from Middle Eastern countries such as Iran and Russia. The majority of Middle?Eastern exports usually leave via the Strait. Fuel oil from Russia has also been declining month-on-month since 2026, as Ukraine intensified its attacks on Russian refineries. The reduced supplies tightened the market in 'Fujairah. The market was replenished in early July following a'short-lived U.S.Iran ceasefire. However, sources on the market said that despite the return of hostilities, supply streams were uncertain. Fujairah Oil Industry Zone statistics showed that the remaining?fuel oil inventory at Fujairah rose to above 7.3 millions barrels (1.2million?tons) during the week ending July 6. This was the highest level since early March. Stockpiles have decreased again slightly this week. (Reporting and editing by Harikrishnan Nair; Jeslyn Leerh)
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Search called off after one confirmed dead and three suspected dead in capsized boat found in San Francisco Bay
The U.S. Coast Guard called off their'search for missing people from a triple-deck pontoon that capsized in San Francisco Bay?a day earlier. According to officials from the Coast Guard and San Francisco Fire Department, a pleasure boat with 20 people on board rolled and sank Tuesday near Alcatraz Island after being hit by a large sea. Good Samaritans on other boats nearby, including a couple fishermen, rushed onto the scene to rescue many of the people clinging to a sinking boat's side before emergency response teams arrived. Officials said that one victim was confirmed to be dead on the scene, and divers, other rescue personnel, and the Coast Guard and Fire Department launched a search of three missing passengers. The Coast Guard announced that it would stop the search for survivors in the frigid water at sunset on Wednesday. Authorities have not formally identified the victims. However, local CBS-owned television station KPIX-TV reported that the brother of the boat captain was pronounced dead. The three other people were the sister, sister-in-law, and friend of the captain. On Wednesday, a Coast Guard official informed reporters that some passengers were below deck when the vessel was struck by a wave and overturned. This likely trapped some people in the sinking vessel.
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US Aviation Industry urges Congress to allocate $20 billion for air-traffic control upgrades
The U.S. aviation sector asked Congress to allocate $20 billion on Wednesday to complete a massive project to modernize America’s aging air traffic control system and reduce systemic flight disruptions. A coalition of aviation companies, including airlines, aircraft manufacturers, airports and unions, said that $20 billion was needed to upgrade or replace hundreds of old air traffic control systems, to deploy the latest technologies for controllers, and to develop advanced tools to manage airspace traffic to improve safety. The Congress allocated $12.5 billion for the project of replacing outdated technology and increasing staffing in air traffic control towers. The new spending will be largely devoted to developing new software which could make air travel more efficient. The letter signed by Boeing and Airbus as well as Airlines for America, U.S. Travel Association (USTA), Air 'Pilots Association (Air?Pilots Association) and many others stated that "Our nation’s aviation system is an important national asset but is under increasing pressure." Sean Duffy, U.S. Transportation secretary, told Congress in April that he wanted $10 billion to fund the next phase. The U.S. Department of Transportation had initially requested $19 billion. Duffy said that he would like to receive the remaining funds later. Jerry Moran, a Republican senator from Texas, said that Congress may give more funding to the project later in this year. FAA air traffic system was hit by several failures. These included serious outages at Newark Airport last year. Initial $12.5 billion was a result of decades of complaints about airport congestion, flight delays and aging technology. In a report from 2023, it was stated that the FAA’s communication system had been outdated for several years and they could no longer obtain spare parts for some systems. A separate report stated that 51 of the FAA’s 138 air traffic control telecoms systems were not sustainable. By the end of 2028 airports would have 5,000 high-speed network connection on fiber, wireless and satellite, 27,000 radios, and 612 radars. Reporting by David Shepardson, Editing by Chris Reese & Nia Williams
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US strikes Iran once again as Tehran warns about 'existential warfare' with America
After reimposing its naval blockade, the U.S. attacked Iran's missile and coastal defense sites on Wednesday, while Iran threatened more regional energy exports by saying that it was in an "existential war" with America. This latest escalation is coming days after the collapse of a fragile truce, which raised the possibility of full-scale conflict, although analysts see it as less likely. Since Iran announced late Saturday that it had closed Strait of Hormuz, hostilities have increased. The military operations have also prevented ships from passing through the crucial artery that carried about a quarter of the world's oil and gas before the war. Brent crude oil closed Wednesday at an all-time high of $84.95 per barrel, a month's highest price. U.S. Central Command reported that the military attacked coastal defense systems, cruise missile storage sites and launchers on Iran's Greater Tunb Island at around 6 am EDT (10:00 GMT) and completed the wave within 90 minutes. Central Command announced a second round of strikes nine hours later. The strikes target Iranian military capabilities used to threaten vessels freely traversing the Strait of Hormuz - an international waterway crucial to global commerce. Central Command stated on X that the U.S. Military is holding Iran responsible at the direction of Commander in Chief. Three U.S. official?reported that U.S. attacks aimed at forcing the strait open are also targeting Iranian capabilities which the U.S. wants to destroy before it executes more complex operations. Iran's Mehr News Agency reported that four locations in the vicinity of Ahvaz, near the northern end of Persian Gulf and Bandar Abbas - Iran's main port city along the Strait of Hormuz - were attacked following the latest round of attacks. Mehr reported that no casualties were reported in either case. Iran's Tasnim reported that explosions could be heard in Konarak, which is located at the southern tip of Iran along the Gulf of Oman. IRIB, the Iranian state broadcaster, reported that the U.S. attack occurred near a Ahvaz hospital which houses a pediatric center. This forced the temporary evacuation of the hospital. IRIB reported that families have gathered in the streets around the hospital to take care of their children. IRIB said that families had come out to the streets around the hospital to care for their children. Qalibaf stated that "we are in a war of essential and existence with America." The war has caused thousands of deaths and millions of displacements, mostly in Iran and Lebanon where the conflict between Israel and Iran's militant group Hezbollah re-emerged. TRUMP SAYS IRAN WANT TO SETTLE Trump struck an ebullient note, as has been his custom since the U.S. & Israel began hostilities in February 28. He said, "We will have Iran defeated very soon." They will be defeated very shortly. Trump said that the Iranians wanted to "settle" so badly at a roundtable at the Pennsylvania Defense Innovation Summit. "They don’t like what we’re doing and they want to settle." Trump said that we'll see if we can settle with them or if we need to finish the deal. Trump claimed that U.S. negotiators were in contact with Iranian counterparts on Tuesday to urge them to "make a deal." IRAN THREATENS OTHER SHIPMENT ROUTES Iran is trying to establish permanent control of shipping in the Strait of Hormuz, and to charge fees to vessels that pass through it. This would represent a "major shift" in the power balance in a part of the world where the U.S. was long the guarantor of safety. The Islamic Revolutionary Guard Corps announced on Wednesday that it had attacked U.S. military sites in the region including Bahrain, Kuwait, and Jordan. Kuwait reported that its armed forces had intercepted four missiles and twenty drones fired by Iran on Wednesday. However, no injuries or damage was reported. CEASEFIRE DEAL FAILS An interim ceasefire agreement signed last month was supposed to lead to future negotiations, including Iran's Nuclear Program, and a permanent truce. However, a return to discussions has stalled. Tasnim News Agency quoted Esmaeil baghaei, a spokesperson for the Iranian Foreign Ministry as saying: "We do not have any plans to negotiate at this time and we are focused on our defense." Qalibaf is the speaker of Iran's Parliament and said, if Iran did not gain from its Memorandum of Understanding with the U.S. "we would have no reason to adhere to this understanding." Qalibaf stated that Iran has never been a fan of war, but must be prepared to fight to the bitter end to protect its national security and interests. Qalibaf said Iran should also use "the instruments of diplomacy, and negotiation," adding that choosing war or negotiation as the only course of action is deemed illogical. (Additional reporting from Jarrett Renshaw, Carlisle, Pennsylvania; Muhammad Al Gebaly, Cairo; Writing and editing by Aidan Lewis and William Maclean; David Brunnstrom, Daniel Trotta, Alexandra Hudson and Ros Russell; Sanjeev Milglani, David Gaffen and Alexandra Hudson)
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United's profit in 2026 is at the high end of its forecast, despite a renewed fuel price surge
United Airlines said Wednesday that it expects a 'full-year profit to be at the upper end of its previous forecast, betting on strong travel demand, higher fares, and a renewed rise in fuel prices, despite its earnings outlook for the third quarter falling short of Wall Street's expectations. In extended trading, shares fell 5%. The Chicago-based airline now forecasts that its fuel bill will be approximately $6 billion more than what it predicted at the beginning of the year. The top of the range is?about 5% higher than the $10.46 expected per share by LSEG's analysts. United expects adjusted earnings for the third quarter of $2.50-$3.50 per share, and an average fuel cost of $3.69 a gallon. According to LSEG, the $3 midpoint is compared with the average analyst estimate of $3.60 per share. The airline reported adjusted earnings per share of $1.99, which was higher than the analysts' expectation of $1.88. Revenue increased 16% to $17.7 Billion. PRICING POWER COVERS 'FUEL HIT' Major U.S. Airlines have enjoyed strong pricing power following a series fares increases that were pushed through this year during the fuel shock. Investors are watching to see if carriers can continue recovering higher costs while maintaining capacity growth. United Airlines said that it recovered approximately 50% of its fuel cost increase during the second quarter. It expects to recover between 80% and 90% of this increase in the third. It expects to offset the cost increase in the fourth quarter. Oil prices have risen by about 15% in the last month, as a result of renewed hostilities between Iran and the U.S. United based its third-quarter forecast and full-year projections on the prices of Tuesday, 14 July. United's fuel expenses are expected to have increased by $575 million in the last two weeks due to rising costs. Fuel prices would have remained stable since the beginning of July, according to United Airlines' third-quarter earnings estimates. Fuel prices are on the rise again, and this highlights the risks that airlines who raised fares in the past face. United still expects that its total revenue per seat mile, which is closely watched as a measure of "pricing power", will grow faster than the 12.1% increase posted in the 2nd quarter. The company expects that the current schedules for the fourth quarter will be reduced. United will discuss the financial results of its company in a conference call with investors and analysts on Thursday morning. (Reporting and editing by David Gaffen, David Gregorio and Rajesh Kumar Singh)
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United's profit in 2026 is at the high end of its forecast, despite a renewed fuel price surge
United Airlines announced a 'full year profit forecast at the upper -end of its previous 'forecast, as strong travel demand and increased fares offset a new surge in fuel prices. Chicago-based airline now forecasts 2026 adjusted earnings per share to be at the top end of its previous range of $9 to $11, despite a fuel bill that is expected to be $6 billion more than what it anticipated at the beginning of the year. The top?end?of this range is about 5% higher than the $10.46 expected by LSEG's analysts. United expects adjusted earnings for the third quarter to range from $2.50 - $3.50 per share, and an average fuel price between $3.69 and $3.69 per gallon. According to LSEG, the $3'midpoint' compares to analysts' averaging estimate of $3.60 a share. (Reporting and editing by David Gaffen; Rajesh Kumar Singh)
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The busiest US container ports sets a record for cargo in June
Port of Los Angeles, the busiest U.S. seaport for container shipping, said on Wednesday that it had set a record for June cargo as shippers, from retailers to data center builders, rushed to import goods in order to avoid increased fuel costs and U.S. tariffs. Executive director Gene Seroka stated that the Southern California port handled 1,002,734 TEUs last month. This is 12% more than June 2025. It marks the "third time" the 118 year old trade gateway has exceeded the 1,000,000 TEU mark. Port data shows that June imports increased by 13%, to?530.558, and exports rose 0.2%, to 126.365. Long?Beach, a port adjacent to the city, said Tuesday that it handled 779,331?TEUs?last?month, marking its?third busiest volume in June on record. This was boosted by an 11% increase in imports. Data from Descartes Systems Group, a provider of supply chain technologies, showed that overall, U.S. containers imports increased 8.2% from a previous year in June. The U.S. and Israeli war against Iran has disrupted shipping around the Middle East. Marine fuel prices have increased and some retailers and manufacturers are also concerned that key 'raw materials' and a 'factory good could become too expensive or scarce to ship. This month, the administration of U.S. president?Donald Trump will implement a new tariff strategy that relies on Section 301, a provision of U.S. Trade Law, allowing investigations into 'unfair trade practices. These 'new duties' are intended to rebuild Trump’s emergency tariffs that were struck down by the U.S. Supreme Court last February.
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Airbus and Boeing fly parts to the giant Antonov plane to ease supply problems
Airbus and Boeing 'chartered' one of the largest cargo planes in the world in recent weeks to speed up the shipments of aerostructures of some civil and military aircraft, a sign that the aerospace supply chain is still under strain. Three industry sources and two regulatory documents indicate that the Antonov An-124 is a four-engine giant transport aircraft chartered for airlifting parts for Europe's A350 plane and the Boeing 767 frame used for tankers and freighters. This follows a similar flight earlier this year carrying parts for a 777 freighter. Boeing's spokesperson stated that it uses "a variety transportation methods to ensure stability in our production," but did not comment directly on the An-124. Airbus' spokesperson stated that "we sometimes use the Antonov" without mentioning if this included its A350 wide-body jet, which has experienced delivery delays. This story, which details the An-124 for the first-time, highlights the pressure that manufacturers face to keep their assembly lines up-to-date and address pockets of delays, which threaten a recovery of production schedules. To move large parts from one production site to another, planemakers use a combination of dedicated sea freight networks, trucks and converted cargo jets. The cost of switching from one transport mode to another is high and it indicates that buffer stock are scarce. Analysts claim that the supply chain for aerospace has improved since the COVID-19 outbreak, with deliveries increasing this year. However, there are still concerns regarding the 'health of the aerostructures sector as well as other parts such seats. DELIVERY OF GIANT PLANE PARTS Sources in the industry said that Airbus's choice to fly A350 components rather than ship them by sea was due to deterioration of a former Spirit AeroSystems facility in Kinston, North Carolina. Airbus acquired this plant last December, as part of its joint breakup with rival Boeing. One source said that at the time parts were being shipped by sea, and a buffer stock was available of four sets. The source said that air freight was needed now to avoid further delays. Airbus informed customers in May of delays in A350 deliveries in the second half of this decade, due to difficulties in securing factory sections. "With regards to Kinston, we're making progress in separating from the former owner and integrating?into Airbus' landscape. The Airbus spokesperson stated that it is a multi-year complex journey. Airbus told analysts in a Wednesday pre-results presentation that it had not altered its assumptions about the impact of the Spirit acquisition on profits by 2026. Boeing, according to U.S. filings in late June, chartered the same Antonov to transport two 'upper fuselage sections' from a Daher Aerospace facility in Florida to its plant in Everett near Seattle. Boeing requested the use of the?An 124 between U.S. city in a letter dated June 22, which was reviewed by. If not avoided, "These delays would have a significant economic cost," the report added. Boeing sent a second?letter on July 1 supporting Antonov's exemption to transport the same Daher-made component. Daher declined to comment on operational issues. The 767 airframe, which was originally designed to be a passenger jet, is now being used for US refueling tanks and in its final stages of development as a commercial cargo aircraft. (Reporting by Allison Lampert, in Montreal, and Tim Hepher, in Paris; Editing and production by Joe Brock and Nick Zieminski).
Texas is hit by a flash flood a year after the Camp Mystic disaster
On Wednesday, a flash flood 'watch' was issued across a large area of Texas as heavy rains turned rivers into raging torrents that could be life-threatening and wiped out over 100 roads. This led to the rescue of dozens of people who were stranded.
According to Texas Governor George Abbott the Nueces River Basin was the hardest hit area. It runs from a plateau north of San Antonio down through flood-prone Texas Hill Country regions devastated by flooding in 2025. Last year's flooding disaster claimed the lives of almost 140 people, 27 of whom were children. They died at Camp Mystic, which is located along the Guadalupe River. Both watersheds are draining into the Gulf of Mexico.
Abbott told reporters in a late afternoon news briefing that no deaths had been reported. He urged residents to pay attention to flood warnings. The governor warned that there would be rising waters for the next 24-48 hours. He also said more than 75 people, mostly stranded drivers, had been rescued. "We're dealing with a flood that will likely break records in Texas history." Local media footage showed vehicles and roads submerged in deep currents muddy water. A state transportation official stated that at least 114 streets, highways and other public areas were washed away by the downpours on Wednesday.
"LIFE-THREATENING RAINSPLASH EVENT" Abbott issued on Tuesday a disaster designation for 59 counties, covering roughly one-fourth of Texas. He activated emergency response plans, and 1300 personnel from 30+ agencies.
Abbott announced that a flood?watch had been posted for the majority of the region and a flash-flooding emergency was in place for Kendall County which is adjacent to San Antonio. State emergency management chief W. said, "This is a potentially life-threatening rain event." Nim Kidd, the state's emergency management chief, told reporters that meteorologists reported rain rates up to 7.6 cm (3 inches) per hour.
Abbott stated that the showers which began on Monday dumped up to 15 inches of rainfall on the flood-stricken area by Wednesday. Another 10 to 15 inch rain is expected to fall through Thursday morning.
Texas wasn't the only state to be threatened by torrential rainfall and high water.
Due to heavy monsoonal rains that have swept the region, the National Weather Service has issued a flash flooding watch for Thursday in much of central Arizona and southern Arizona. This includes Prescott, Phoenix, Tucson, and the border with Mexico.
Similar advisories were issued for scenic canyon areas in southern Utah.
Weather service: The Southwest was hit by heavy rains, flooding, and a heat wave that brought sweltering and humid weather.
(source: Reuters)